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Bell contracts with U.S. Army for four 412EP helicopters

Business
June 21 (UPI) -- Bell Helicopter Textron has received a $ 27 million contract for the manufacturing and delivery of four Bell 412EP helicopter to the U.S. Army, the Department of Defense announced Tuesday.The contract was solicited on the Internet with one bid accepted. Work will be conducted in Ft. Worth, Texas, and is expected to be completed by Nov. 30 2017. Fiscal 2017 funds in the amount of $ 27.2 million have been obligated upon award.The Bell 412 is a twin-engine light utility helicopter used by both by militaries and civilian agencies and is one of the most widely exported helicopters in the world. The EP variant has been upgraded with more powerful engines for speed, greater reliability and lift capacity.The helicopter is used by militaries to transport personnel and equipment, ...

Norwegian oil production better than expected

Business
June 21 (UPI) -- Crude oil production from Norway, the region's top supplier, was better than expected, a national energy regulator said Wednesday.Norway is a main oil and natural gas supplier for the European economy, designating nearly all of its offshore production for exports. The Norwegian Petroleum Directorate, the nation's energy regulator, said preliminary figures for May were lower than the previous month, but better than expected.Based on preliminary data, the average production for May was 1.98 million barrels per day for oil, natural gas liquids and condensate, an ultra light form of oil. That's about 5 percent less than the previous month.About 80 percent of the total volume was oil and the NPD said the 1.61 million barrels per day average was 2.8 percent higher year-on-year a...
Barclays charged with fraud in Qatar case

Barclays charged with fraud in Qatar case

Business
Barclays and four former executives have been charged with fraud over their actions in the 2008 financial crisis.The Serious Fraud Office case relates to the billion of pounds the bank raised from Qatari investors enabling it to avoid a government bailout.Former chief executive John Varley is one of the four ex-staff who will face Westminster magistrates on 3 July.Barclays says it is considering its position and awaiting further details."The charges arise in the context of Barclays' capital raisings in June and November 2008. Barclays awaits further details of the charges from the SFO," the bank said in a statement.It is the first time criminal charges related to the financial crisis have been brought against a bank in the UK.Mr Varley, former senior investment banker Roger Jenkins, Thomas...
Brexit negotiations: Barnier rules out 'concessions'

Brexit negotiations: Barnier rules out 'concessions'

Business
Media playback is unsupported on your deviceThe EU's chief negotiator said there would be "substantial" consequences from Brexit after the first round of talks with the UK.Michel Barnier said he was "not in the frame of mind to make concessions or ask for concessions".UK Brexit Secretary David Davis said talks got off to a "promising start".The UK appears to have conceded to the EU's preferred order for the talks which will mean trade negotiations do not begin immediately.Mr Davis and Mr Barnier gave a joint press conference after day one of the talks in Brussels.The initial focus will be on expat rights, a financial settlement and "other separation issues".Discussions aimed at preserving the Good Friday Agreement and common travel area in Ireland will also begin, although Mr Davis suggest...
Historic Brexit negotiations begin in Brussels

Historic Brexit negotiations begin in Brussels

Business
By Mark Stone, Europe Correspondent in Brussels, and Alessandra Rizzo, Political ReporterBritish and European Union negotiators have begun historic talks on Britain leaving the bloc - with both sides seeking to strike a positive tone.Speaking in Brussels, Brexit Minister David Davis said London wanted a "new, deep and special partnership" in the interest of Britons and all Europeans."There is more that unites us than divides us," he said, adding that Britain was looking for a "positive and constructive tone" in the talks.The EU's chief negotiator, Michel Barnier, said he hoped they could agree a format and timetable on Monday.The former French minister said his priority was to clear up the uncertainties that the Brexit vote had created.The start of the talks - almost exactly a year after t...